‘Banks struggle to report trading metrics for Volcker rule as deadline looms’ Compliance Complete, Thomson Reuters

“The banks are all struggling with the difficulty of getting the metrics. This is incredibly quantitative. It is an intense data exercise. Many of the banks of course know how to measure their risks but they’ve never had to do it at such a granular level,” said Mayra Rodríguez Valladares, a managing principal at MRV Associates, a regulatory consulting and training firm in New York.

Valladares said many big banks were organized in such a complex manner that they were overwhelmed with the process of collecting and reporting metrics.

Although some banks have created internal groups to comply with complex rules like Volcker or the Basel rules, she said they needed to coordinate the groups to avoid duplication.

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